Starbucks to more than double store opening rate

The chief executive of Starbucks has revealed that the coffee shop giant is to more than double its opening of new stores globally over the next year.

Howard Schultz, who is also the chairman of the Seattle-based company, said Starbucks planned to open about 500 outlets this financial year, 400 of them outside the US. He added that China would be a key market.

He said: "Our ability to navigate through the financial crisis and come out stronger gives us reason to start growing the company again."

Starbucks, which has about 17,000 coffee shops in more than 50 countries, cut back its opening programme during the downturn, including in the UK and Europe, but sales have bounced back recently.

For the 14 weeks to 3 October, Starbucks delivered record sales, up 17.2 per cent to $2.8bn, driven by underlying sales growth of 8 per cent in the United States and 7 per cent internationally.

Its plan to open 500 stores more than doubles the 223 it unveiled in its last financial year to 3 October. It also contrasts sharply with the net 45 it closed in the previous year.

This year's opening spree will be Starbucks' biggest since the 1,669 total for 2008. Mr Schultz would not reveal how many stores Starbucks will open in China, but said it would be its largest growth market in two years' time.

Speaking at an event in Yunnan province, Mr Schultz said: "I think the opportunity that we have in China – we've underestimated in terms of the number of stores and the reach that Starbucks is going to have."

Starbucks believes there is huge potential to drive coffee consumption in China, which currently stands at a meagre 22 grams annually per person, compared with a whopping 3.3 kilograms in Japan, according to data from Key Coffee.

Jinlong Wang, the head of Starbucks in China, said the number of outlets in the country would surpass 1,000 in the "near future". The coffee specialist opened its first store in China in 1999 and now has more than 400 stores on the mainland.

The coffee company typically uses partners to open licensed outlets overseas. At the event in Yunnan, Starbucks signed an agreement with two governmental organisations in the province to help local farmers promote "responsible coffee-growing practices", such as by developing and operating a base farm and processing facilities.

Starbucks has 703 coffee shops in the UK.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Collections Agent

£14000 - £16000 per annum: Recruitment Genius: This company was established in...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + competitive: SThree: SThree are a global FTSE 250 ...

Reach Volunteering: Trustees with Finance, Fundraising and IT skills

Voluntary and unpaid, reasonable expenses reimbursable: Reach Volunteering: St...

Day In a Page

Isis profits from destruction of antiquities by selling relics to dealers - and then blowing up the buildings they come from to conceal the evidence of looting

How Isis profits from destruction of antiquities

Robert Fisk on the terrorist group's manipulation of the market to increase the price of artefacts
Labour leadership: Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea

'If we lose touch we’ll end up with two decades of the Tories'

In an exclusive interview, Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea
Tunisia fears its Arab Spring could be reversed as the new regime becomes as intolerant of dissent as its predecessor

The Arab Spring reversed

Tunisian protesters fear that a new law will whitewash corrupt businessmen and officials, but they are finding that the new regime is becoming as intolerant of dissent as its predecessor
King Arthur: Legendary figure was real and lived most of his life in Strathclyde, academic claims

Academic claims King Arthur was real - and reveals where he lived

Dr Andrew Breeze says the legendary figure did exist – but was a general, not a king
Who is Oliver Bonas and how has he captured middle-class hearts?

Who is Oliver Bonas?

It's the first high-street store to pay its staff the living wage, and it saw out the recession in style
Earth has 'lost more than half its trees' since humans first started cutting them down

Axe-wielding Man fells half the world’s trees – leaving us just 422 each

However, the number of trees may be eight times higher than previously thought
60 years of Scalextric: Model cars are now stuffed with as much tech as real ones

60 years of Scalextric

Model cars are now stuffed with as much tech as real ones
Theme parks continue to draw in thrill-seekers despite the risks - so why are we so addicted?

Why are we addicted to theme parks?

Now that Banksy has unveiled his own dystopian version, Christopher Beanland considers the ups and downs of our endless quest for amusement
Tourism in Iran: The country will soon be opening up again after years of isolation

Iran is opening up again to tourists

After years of isolation, Iran is reopening its embassies abroad. Soon, there'll be the chance for the adventurous to holiday there
10 best PS4 games

10 best PS4 games

Can’t wait for the new round of blockbusters due out this autumn? We played through last year’s offering
Transfer window: Ten things we learnt

Ten things we learnt from the transfer window

Record-breaking spending shows FFP restraint no longer applies
Migrant crisis: UN official Philippe Douste-Blazy reveals the harrowing sights he encountered among refugees arriving on Lampedusa

‘Can we really just turn away?’

Dead bodies, men drowning, women miscarrying – a senior UN figure on the horrors he has witnessed among migrants arriving on Lampedusa, and urges politicians not to underestimate our caring nature
Nine of Syria and Iraq's 10 world heritage sites are in danger as Isis ravages centuries of history

Nine of Syria and Iraq's 10 world heritage sites are in danger...

... and not just because of Isis vandalism
Girl on a Plane: An exclusive extract of the novelisation inspired by the 1970 Palestinian fighters hijack

Girl on a Plane

An exclusive extract of the novelisation inspired by the 1970 Palestinian fighters hijack
Why Frederick Forsyth's spying days could spell disaster for today's journalists

Why Frederick Forsyth's spying days could spell disaster for today's journalists

The author of 'The Day of the Jackal' has revealed he spied for MI6 while a foreign correspondent